University of Hawai'i Federal Credit Union Selects Scienaptic to Power Credit Decisioning with AI
Platform to enhance credit access and improve member experience
Dec 14, 2022
Leading global AI-powered credit decision platform provider Scienaptic AIannounced today that the University of Hawai`i Federal Credit Union has selected Scienaptic’s AI-based underwriting platform to automate and streamline its credit decisioning and expand its member base.
Founded in 1955 by 10 university colleagues, the University of Hawai`i Federal Credit Union is a federally chartered credit union with over $750 million in assets that serves over 32,000 members, including the faculty, staff, students, and alumni association members of the University of Hawai`i system statewide as well as their family members. The credit union has many accolades to its name, such as the “America’s Best-In-State Credit Unions” by Forbes Magazine, a finalist for “Hawaii’s Best” (three times) by the Star-Advertiser as well as “Best Bank” by the students of the University of Hawai`i. Scienaptic’s credit-decisioning platform will enable the credit union to uncover untapped credit opportunities, increase loan accessibility, and transform the member experience.
"As a technology-driven, progressive credit union hyperfocused on our members’ experiences and needs, we are selective when evaluating fintech partners,” said UHFCU President and CEO Travis Bow. “Scienaptic’s industry-leading underwriting technology will help us make enhanced and instant credit decisions, anticipate our members' needs, make personalized decisions for each of them, and expand credit access to more creditworthy members in our community. Scienaptic is helping us take the next step in innovation while remaining rooted in the commitments our founding members made over 67 years ago."
Correspondingly, Pankaj Jain, President and Co-founder of Scienaptic AI, said, “We are thrilled to have the opportunity to partner with UHFCU. The power to anticipate your members' needs, enhance their credit experience, and expand credit access while minimizing risk will not only enable UHFCU to improve the financial well-being of their members but also inspire other financial institutions throughout Hawai`i to embrace AI technology.”
Scienaptic AI’s mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Credit unions, auto lenders, banks, and fintechs, use Scienaptic's AI native credit decisioning platform to continually improve the quality and speed of their underwriting decisions.
The platform enables FIs to reach more borrowers, including underbanked and underserved individuals, and say “yes” more often without increasing risk. It democratizes automated AI-powered lending while addressing all regulatory requirements, including Fair Lending and explainable adverse actions.
Scienaptic-enabled lenders have processed more than 200 million transactions, benefitting millions of borrowers.
For more information, visit http://www.scienaptic.ai